150 KMT OF EN 590 IN LOME WATERS

TRANSACTION: TTO

INSTRUMENT: SBLC/ BF/ BG

PRICE: $530/10

PROCEDURE

1. BUYER ISSUES LETTER OF INTENT (LOI) TO RECEIVE SPA. SELLER ISSUES SPA AND BUYER SIGNS AND RETURNS SPA WITH BUYER’S PASSPORT DATA PAGE AND COMPANY REGISTRATION CERTIFICATE. WITH BUYER’S CIS TO ISSUE SBLC/ BG or BLOCK FUND VERBIAGE AND SPECIFICATION VERY IMPORTANT. CIS of BUYER THAT SIGN THE SPA AND SBLC/BG ISSUING ACCOUNT SIGNATORY
2. BUYER RETURNS THE CONTRACT DULY SIGNED VIA E-MAIL TO THE SELLER. THE ELECTRONICALLY SIGNED COPY IS LEGALLY BINDING AND ENFORCEABLE. BOTH PARTIES DEPOSIT THE SAME AT THEIR RESPECTIVE BANKS. BUYER ALSO ISSUES CONFIRM ABLE BANK PROOF OF FUNDS AND LETTER OF AUTHORITY TO CONFIRM AT BUYER’S BANK.
3. BUYER ISSUE PRE ADVICE FOR EITHER BG, BLOCK FUND OR SBLC AND SELLER COUNTERS WITH A PREADVICE FOR 2% PERFORMANCE BOND AND ISSUES POP DOCUMENTS TO BUYER VIA EMAIL AS LISTED BELOW:
   a) Certificate of Origin
   b) Product quality passport (Analysis test Report-SGS Report)
   c) Bill of Lading
   d) Freight Cargo Manifest
   e) NOR
   f) Vessel Q88
4. WITHIN THREE (3) BANKING DAYS OF BUYER RECEIPT OF THE ABOVE POP DOCUMENTS, BUYER’S BANK ISSUES SBLC / BG / BLOCK FUND TO SELLER’S NOMINATED FIDUCIARY (BUYER’S ACCOUNT OFFICER TRANSMITS COPY TO SELLER’S ACCOUNT OFFICER AND SELLER) SHOWING BUYER’S FINANCIAL CAPABILITY AND READINESS TO PURCHASE THE CARGO TO SELLER’S NOMINATED FIDUCIARY BANK ACCOUNT WHICH WILL STAND AS SECURITY GUARANTEE FOR THE TRANSACTION, CHANGE OF TITLE OWNERSHIP, CARGO DELIVERY AND RE ASSIGNING OF CARGO TO CURRENT BUYER.
5. UPON SELLER’S BANK CONFIRMATION OF BUYER’S BANK SBLC, BLOCK FUND OR BG DEPOSIT,
   (TRANSMIT COPY TO BUYER) SELLER ACTIVATES THE 2% PERFORMANCE BOND AND TRANSFERS THE TITLE TO THE POTENTIAL BUYER’S COMPANY’S NAME AND ALSO RE-ISSUE ALL OTHER OUTSTANDING DOCUMENTS TO THE POTENTIAL BUYER’S COMPANY’S NAME AND ALSO DELIVERS THE VESSEL TO BUYER’S DESTINATION (OUT-SIDE PORT/TERMINAL ON INTERNATIONAL WATERS) AND ISSUES ETA TO BUYER’S POD.
6. VESSEL ARRIVES AT LOME INTERNATIONAL WATERS AND SELLER ISSUES ATB AND DTA (DIP TEST AUTHORIZATION) TO ALLOW BUYER’S INSPECTION TEAM TO DIP
   TEST/Q&Q BY SGS.INSPECTION TEAM SHALL BOARD WITHIN 24HOURS OF ATB/DTA ISSUANCE
7. WITHIN 48HOURS OF A SUCCESSFUL INSPECTION, THE BUYER MAKES PAYMENT FOR PRODUCT BY MT103//23 AND TANKER IS TAKEN OVER
8. THE SELLER PAYS COMMISSIONS TO ALL AGENTS WITHIN 24-48HOURS
9. NEXT DELIVERY